According to a news report by MalaysiaKini, the Perak government has recorded a surplus of RM 52.3 million last year.
In his royal address, the Perak ruler Sultan Nazrin Shah said the state government revenue was RM 1.15 billion, while expenditure was RM 1.1 billion.
The revenue was stated to be 106 percent above initial target, making 2019 the only year the state had recorded a surplus since 2016.
“Going forward, my government will continue to adopt cost-saving measures and improve revenue collection to ensure it has adequate funds to finance various development projects,” the Sultan said in the news report by MalaysiaKini.
The state’s RM 1.2 billion for 2020 will be re-assessed on a needs-based basis to converge on projects which have a higher impact and multiplier effect.
Additionally, the Malaysian Investment Development Authority (MIDA) has approved investments totaling RM 10.2 billion for the state.
The Sultan has also urged for the telecommunication infrastructure to be improved as the National Fiberisation and Connectivity Plan (NCFP) aims enhance broadband quality, coverage and affordability.
Besides that, the NCFP aims to ensure between 500Mbps and 1000Mbps internet speed availability for all state capitals by 2023.